Kraken Energy (UUSA.C) has added 117 contiguous claims to its Apex uranium project in Nevada. All new claims are located on BLM land (Bureau of Land Management) and are along strike with the mineralized trend that has been identified over the main Apex project. The additional claims expand the total size of the land package by almost 20%.
The addition makes sense and while the company is still working through the permitting process to obtain drill permits for Apex. The US Forest Service has requested the company to complete three additional baseline surveys; a botany survey, an archaeological/cultural study and a wildlife survey. One of those studies has already been completed, the second one will start in Q4 and the wildlife survey will be scheduled based on raptor nesting dates.
Although the company can’t drill the property yet, it is able to gather more useful information and Kraken plans to conduct passive seismic testing in the fourth quarter of this year to determine the target depths. Meanwhie, the additional prospecting and radon surveys will continue throughout the fall to test the airborne anomalies encountered during previous exploration sessions.
Disclosure: The author has no position in Kraken Energy. Please read the disclaimer.
